[ithos]

Originally Posted by joelfmi

Not after this hurricane. You are dreaming if you believe price will not drop.

Actually I think the storm will increase the demand for homes in TV.

Far less risk than building on the coast. The developers have done a great job in preparing for storms like Ian.

[phowe]

Originally Posted by Babubhat

500k is pocket change for those from the Northeast

It very much depends on where in the northeast you are from. Upstate New York is not like New York City area.

[Villages Kahuna]

It’s called the Law of Supply and Demand.

The demand by buyers for houses in The Villages keep the prices propped up.

[Babubhat]

Originally Posted by phowe

It very much depends on where in the northeast you are from. Upstate New York is not like New York City area.

Upstate NY is full of civil servants with fat pensions. They are neighbors! Many places with less expensive choices and amenities

[kkingston57]

Originally Posted by rustyp

$250K 30 year fixed rate mortgage:

Dec 2021 - $1108/month
Today - $1748/month
2023 projection - $2193/month

I think I can predict what will happen to house prices !

I would think and hope that most retirees in TV do not have mortgages. More relevant will be the prices of homeowners insurance thanks to Mr. Ian. After Andrew in 1992 a lot of turmoil in the insurance industry.

[kkingston57]

Originally Posted by DonnaNi4os

If you come from up north chances are you got a great price for the house you sold up there. Add to that, low property taxes, no state income tax…makes moving here a great idea regardless of the stock market.

Missed one big thing, Insurance. Be prepared for big increases.

[Babubhat]

The real objection is prices that have gone up a third or more in 3 years. The reset has started. Just saw a house asking 150k more bought a year ago. Absurd

[sowtime444]

All-Transactions House Price Index for the Villages, FL (MSA) (ATNHPIUS45540Q) | FRED | St. Louis Fed

(as a comparison, nationally the index is around 300, and The Villages is around 400 right now)

[Altavia]

Originally Posted by sowtime444

All-Transactions House Price Index for the Villages, FL (MSA) (ATNHPIUS45540Q) | FRED | St. Louis Fed

(as a comparison, nationally the index is around 300, and The Villages is around 400 right now)

Wow!

[RiderOnTheStorm]

Originally Posted by rrtjp

The sales pitch we got when we bought here was “you are not buying a house, you are buying a life style “.
We do love it here and feel very fortunate to be able to call The Villages home.

The "buying into a lifestyle" is clearly a sales pitch, and while I not affiliated with the developer, there is another way to look at the very high home prices, if you like: Find a local country club that offers the same amenities as The Villages (e.g. zillions of fairways, pools, softball fields, etc.) and subtract their membership initiation fee ($30K? $60K, more?) from the home cost. Then figure out the net present value of their monthly dues ($250, $500/month or more?) and subtract this from the home cost. Add back in the net present value of TV amenity fees. You will probably find the "adjusted cost" of your Villages home is 25% or more less. That's how we looked at it (don't think for a minute that the developer doesn't factor this into their pricing decisions). In any event, it is really a "quality of life" consideration. As my great aunt always reminded me: "There are no luggage racks on a hearse" or "pockets in a shroud".

[rustyp]

Originally Posted by kkingston57

I would think and hope that most retirees in TV do not have mortgages. More relevant will be the prices of homeowners insurance thanks to Mr. Ian. After Andrew in 1992 a lot of turmoil in the insurance industry.

According to an article published by Bankrate.com Ryan Erisman, real estate salesman and author of “The Villages Florida Book,” Erisman estimates that about 50 percent of buyers at The Villages mortgage their homes

[justjim]

The prices of homes in TV (new and resale) will fall when the demand is significantly less than the supply. It’s really that simple.

[Velvet]

Originally Posted by joelfmi

Not after this hurricane. You are dreaming if you believe price will not drop.

After this hurricane price will increase not drop, as people will notice that TV location is quite favorable to Florida hurricanes compared to many other places - as people from the coastal regions came to shelter in TV if they had family or friends here.

[dewilson58]

Originally Posted by justjim

The prices of homes in TV (new and resale) will fall when the demand is significantly less than the supply. It’s really that simple.

Not holding my breath.

[jimbomaybe]

Originally Posted by retiredguy123

Not true. $500K in 100 dollar bills would be a stack of bills 21.5 inches high. How would anyone from the Northeast fit that into their pocket?

DEEP pockets